HK Stock Market Move | NEXTEER(01316) rose by over 7% with first-quarter new orders totaling $1.6 billion. Institutions are expected to add more orders for steering systems within the year.

NEXTEER (01316) rose more than 7%, up 7.37% as of the time of publication, to HK$5.1, with a turnover of HK$51.45 million. On the news front, Guotai Haitong research report pointed out that NEXTEER has released its first-quarter operating update for 2026. In the first quarter of 2026, the company received new orders totaling $1.6 billion, including several important REPS business expansions with North American customers, strong order growth in REPS, rear-wheel steering, CEPS, and column businesses with a new Chinese auto manufacturer, breakthrough in CEPS business with an existing Chinese auto manufacturer, and is expected to add more wire-controlled steering orders in the year and achieve the first EMB project. Guotai Haitong believes that with the release of the first-quarter operating update for 2026, NEXTEER already has mass production capabilities for several wire-controlled chassis products, including wire-controlled steering, rear-wheel steering, and EMB. In the long run, with the backing of the Chinese market and continuous technological research and development, the company is expected to reverse-export to the European and American markets and eventually achieve a leap in global market share in the steering market.